30 Apr '13, 10pm

Tesla stock still climbing, despite federal supboena asking about executive share trading

Tesla stock still climbing, despite federal supboena asking about executive share trading

In recent days, Tesla Motors stock (TSLA ) has been climbing and climbing , hitting a high of $58.18 earlier today before closing at a respectable $53.99. The rise comes amid a string of headline-making events – higher-than-expected sales , franchise dealer fights and a new warranty program , to name just three – but under all of the good news lies a potential problem. The Wall Street Journal revealed today that Tesla was served subpoenas from US federal prosecutors over details on the company's trading plan for executives. There has been no hint of wrongdoing, the feds just want information, Reuters reports. A similar subpoena was sent to Cardiovascular Systems, which makes medical implements. The question is how the executives can trade their shares. Reuters reports that it is fine by Securities and Exchange Commission (SEC) rules for executives to use something called a...

Full article: http://green.autoblog.com/2013/04/30/tesla-stock-still-cl...

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